Fine electricity supplier, possibly? That's pointless (8)

I believe the answer is:

futility

'that's pointless' is the definition.

'fine electricity supplier possibly?' is the wordplay.
'fine' becomes 'f' (abbreviation).
'electricity supplier possibly?' becomes 'utility'.
'f'+'utility'='FUTILITY'

(Other definitions for futility that I've seen before include "No prospect of success" , "Uselessness" , "Pointlessness" .)

I've seen this clue in The Telegraph.

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